Rush’s Income Rises on Higher Truck, Aftermarket Sales

Truck dealership Rush Enterprises reported a higher second-quarter profit on higher truck and aftermarket sales.

Net income increased to $17.4 million, or 44 cents a share, from $12.5 million, or 32 cents, a year ago. Revenue jumped 26% to $835.8 million.

Its Class 8 retail sales rose 19%, Rush said. Aftermarket services accounted for more than 62% of the company’s profit, while parts, service and body shop revenues rose 22%.

Rush delivered 2,813 new heavy-duty trucks, up from 2,363 a year ago, 2,141 new medium-duty trucks, up from 1,514, 343 light-duty trucks, up from 314, and 1,242 used trucks, up from 1,156.

“Used truck sales and residual values remained steady throughout the quarter and are expected to continue at current levels for the remainder of 2012,” CEO W. M. “Rusty” Rush said in a statement.